Continued inflation drives consumers to seek out more
promotions, discounts and loyalty programs to manage costs
associated with dining out.
CHICAGO, May 9, 2024
/PRNewswire-PRWeb/ -- Givex, the cloud-based global customer
engagement and business insights platform, has released findings
from its latest survey examining the impact of inflation on
American dining preferences and habits. The Givex 2024 Restaurant
and Dining Trends Survey draws from responses of over 1,000
Americans, offering a detailed look into evolving consumer
behaviors as the economic landscape shifts.
"The ongoing economic challenges have understandably altered the
way people approach dining out," said Givex's Chief Commercial
Officer, Mo Chaar. "Our survey
indicates that while price sensitivity has increased, so has the
appreciation for value-added services like loyalty programs and
promotional offers, which can help restaurants maintain customer
engagement during these challenging times."
According to the survey, 86% of Americans cite promotions as a
major incentive to dine out, closely followed by coupons and
discounts at 81%. Additionally, 65% of respondents find value in
loyalty programs, and nearly half (47%) are attracted to Happy Hour
deals. This shows a clear trend of consumers seeking ways to
maximize value in response to rising menu prices and the ongoing
impacts of inflation.
Other key insights from the Givex 2024 Restaurant and Dining
Trends Survey include:
Inflation Impact: A notable 78% of Americans agree that higher
menu prices have made dining out more challenging over the past
year.
Shifts in Dining and Delivery: Some 41% of respondents are
dining out less frequently, while 45% have reduced their food
delivery orders compared to last year. Meanwhile, 60% report
cooking more at home.
Loyalty Programs: Nearly half of all Americans prioritize
grocery loyalty programs, with 49% rating them as most important.
Overall, 87% of Americans participate in at least one loyalty
program.
Technology Adoption: There's a growing acceptance of AI —
specifically conversational AI-driven product recommendation
technology — in the restaurant industry, with 52% of Americans
comfortable with its implementation. In the 2024 Restaurant
Technology Study co-sponsored by Givex, 63% of restaurant operators
surveyed said they are planning to use or add AI or
automation/robotics into their operations. Both data sets
underscore the growing demand for emerging technology to enhance
the customer experience and restaurant operations.
"As we navigate a period marked by economic adjustment,
understanding consumer priorities is essential for businesses
aiming to enhance customer experiences and drive sales," said
Chaar. "The insights from our 2024 survey provide critical data
that can help restaurant owners and operators make strategic
decisions that align with customer preferences."
For more information about the technology solutions offered by
Givex, visit givex.com.
About Givex
The world is changing. Givex is ready. Since 1999, Givex has
provided technology solutions that unleash the full potential of
engagement, creating and cultivating powerful connections that
unite brands and customers. With a global footprint of 132,000+
active locations across more than 100 countries, Givex unleashes
strategic insights, empowering brands through reliable technology
and exceptional support. Givex's integrated end-to-end management
solution provides Gift Cards, GivexPOS, Loyalty Programs and more,
creating growth opportunities for businesses of all sizes and
industries. Learn more about how to streamline workflows, tackle
complex challenges and transform data into actionable insights at
http://www.givex.com.
Media Contact
Julie Maw, Mainland, 3125263996,
jmaw@hellomainland.com, www.hellomainland.com
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SOURCE Givex